Guideline Value for Dr. Ambedkar 2nd Cross Street

Dr. Ambedkar 2nd Cross Street guideline value

The current guideline value of Dr. Ambedkar 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Meenambakkam village and falls under the Pammal SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Dr. Ambedkar 2nd Cross Street has changed

The guideline value for Dr. Ambedkar 2nd Cross Street has undergone several revisions since 2002. In 2002, the value was Rs 578 per sq.ft, which increased to Rs 675 per sq.ft in 2003, marking a 17% rise. The value then saw a significant jump to Rs 935 per sq.ft in 2007, reflecting a 39% increase. By 2017, the value further increased to Rs 1,005 per sq.ft, a 7% rise from the previous revision. The next revision in 2023 set the value at Rs 1,500 per sq.ft, a substantial 49% increase from 2017. The most recent revision in 2024 has brought the value to Rs 1,650 per sq.ft, a 10% increase from 2023. Notably, there is no figure available for the year 2012 in the register for this street.

Overall, from 2002 to 2024, the guideline value has increased by 185%, showcasing a consistent upward trend over the years. Each revision reflects the changing landscape and valuation of properties in the area.

Guideline values in Meenambakkam

In Meenambakkam, there are 17 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, indicating that Dr. Ambedkar 2nd Cross Street's 2024 figure is below this median.

• Dr. Ambedkar 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Dr. Ambedkar Street: Rs 1,650 per sq.ft (2024)
• E.V.R. Street: Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 3,850 per sq.ft (2024)
• G.S.T. Road: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Ambedkar 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Ambedkar 2nd Cross Street?

The Sub Registrar Office that covers Dr. Ambedkar 2nd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Meenambakkam

The guideline value is a crucial factor during the registration of properties in Meenambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value helps establish the minimum price at which the property can be registered. This ensures that the transaction is documented accurately and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Dr. Ambedkar 2nd Cross Street?

The current guideline value of Dr. Ambedkar 2nd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 578 per sq.ft in 2002 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 185% over the years.

What is the land classification for Dr. Ambedkar 2nd Cross Street?

The land classification for Dr. Ambedkar 2nd Cross Street is Residential Class IV Type - I.

Which Sub Registrar Office covers this street?

The Pammal Sub Registrar Office covers Dr. Ambedkar 2nd Cross Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.